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Re:Student Loans a Lot Like the Subprime Mortgage Debacle, W... by the_watcher on Tuesday December 10, 2019 @11:15PM (#21759527)
> Why was it necessary to change student loans to being non-dischargeable in bankruptcy? That is a recent change

It was in 1976, not very recent.

Re:Student Loans a Lot Like the Subprime Mortgage Debacle, W... by techsupporter on Wednesday December 11, 2019 @03:08AM (#21760538)
> It was in 1976, not very recent.

The person to whom you are replying is referring to the poorly-named Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. That law expanded the exemption from discharge in bankruptcy of student loans to be any student loan, including privately-issued student loans, not just ones issued by the government through a federal or state program.

This is why you see companies like SoFi running around offering screamingly low rates on student loans. Because they are private, those companies need not offer any of the protections a government loan offers (income-based repayment, forbearance options in the event of loss of income or disability, and so on) but retain the power to garnish tax refunds and the loans cannot be discharged in bankruptcy.